🐶 More Bark Than Bite

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2 mins

More Bark Than Bite

The cryptocurrency $DOGE received a surpise pump in its price today after Twitter decided to update their logo in the web app with a DOGE picture. This lead to prices of the meme coin rising by as much as 30%. Such wow!

https://twitter.com/crypto/status/1642962421349228571

Events like this don't do much to demonstrate the maturity of Crypto as an asset class even if they make for great headlines. And that latter part might be the point...

Some people are speculating that this move was taken to bury the news that he is currently being threatened with a "$258 billion racketeering lawsuit" (source).

Either way, for Elon and $DOGE fans this is likely a popular move...

https://twitter.com/elonmusk/status/1642976364080041984

At the time of publishing $DOGE is stubbornly refusing to give up it's gains, once again proving the power of memes to move a market.

Published with ♥ by @nuconomist

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